Payments Blog

The “next big thing” in the digital payments industry is the Internet of Things (IoT). There has been a lot of discussion surrounding the Internet of Things, its capabilities and some different products that will alter the way consumers think about and conduct digital commerce.

Today, things are constantly changing. Everything that’s big and important in the digital payments industry today might be relatively unimportant just a few years from now. It’s important, in this industry, to keep an eye towards the future, and to attempt to identify the “next big thing.” Every year, there are new, emerging verticals that experience remarkable growth relative to their prior achievements. Looking forward, there are some emerging verticals that deserve attention.

Over the past several years, different electronics products have become ingrained in our society. Today, it’s rare for consumers to make it through an entire day without checking their phone or logging onto their computer. This dependence on electronics products has benefited certain merchants that sell them, however, it has also attracted cybercriminals to their digital marketplaces.

As previously discussed, merchants in different verticals face distinct challenges that are unique to their specific industry. There are, however, verticals that are inherently riskier than their counterparts, for a variety of reasons. In these high-risk verticals, there is a higher incidence of fraud, so merchants need to assess the benefits and risks of operating in these verticals, and must ensure that they are prepared to face any challenges that come their way.

Today, there are many different vertical markets. Within a vertical market, there are different kinds of contributors. Some contributors are large, big-time merchants and others are smaller merchants who have developed a niche for themselves, and have built a loyal consumer base. No matter the size, all these merchants can be part of the same vertical market.